Do the capital markets have investors concerned?
*Financial Times, by David Wighton, August 6, 2007:
"World markets face a nervous start to the week following the plunge
in stocks in the US on Friday as concerns mounted about fallout from
the US mortgage market turmoil.
The late sell-off in New York followed comments by the chief financial
officer of Bear Stearns, who said credit markets were as bad as he had
seen in 22 years.
The Wall Street bank's board will meet today to consider the future of
Warren Spector, its co-president and head of capital markets, according
to The Wall Street Journal. One analyst said that, if Bear made no
statement before the markets opened today, investors would fear there
was "more bad news to come".
US financial stocks were particularly badly hit on Friday, prompting
calls for the Federal Reserve to intervene by cutting interest rates.
At its meeting tomorrow, some economists expect the Fed to acknowledge
the risk that weakness in the US housing market could spread to the
broader economy."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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